Study details women’s purchasing power
Baltimore — A white paper released Tuesday by marketing communications firm Vertis Communications, entitled “power2thewomen2.0: the Shopping Trend Revolution Continues,” revealed that women wield formidable purchasing power, controlling approximately $5 trillion in spending annually, but that how they interact with retailers and marketers differs greatly.
The research found that Gen X/Y female shoppers are more likely to shop for value, are less brand-loyal than their older counterparts and are more likely to purchase store-brands and generic products.
Gen X/Y women do not watch the most television, found the survey, but cite it as being the most influential in their purchasing decisions. Boomers watch the most television, but they say advertising inserts are the most influential.
Younger women utilize direct mail more than Boomer women for either in-store or online purchases.
While Gen X/Y women are online more than Boomer women, both generations do online shopping research at about the same rate, with only a seven point difference between them.
"These findings are significant for marketers who are trying to tap into the extraordinary buying power of women, because they shine a light on how females are taking over the primary purchasing decisions for items typically handled by male shoppers and reveal important differences between generations that are often overlooked," said Janet Tonner, director of research & analytics at Vertis.
"As marketers continue their shift to utilize the newest technologies, it’s important to remember that Boomer women are the most open to new opportunities, have money to spend, and more time to spend it. Marketers who want to remain competitive in this environment must take these generational differences into account," said Tonner.
South Africa to let antitrust regulators decide Massmart acquisition conditions
Cape Town, South Africa — A Tuesday report by Bloomberg said that South Africa’s parliament will let anti-trust regulators decide what conditions to impose on Wal-Mart Stores in its acquisition of Massmart Holdings Ltd.
The Competition Tribunal ruled on May 31 that Wal-Mart could proceed with its $2.4 billion purchase of a controlling stake in Johannesburg-based wholesaler Massmart on condition no jobs are cut for two years.
The tribunal’s decision is being appealed by the South African Commercial, Catering and Allied Workers Union in the Competition Appeal Court.
Big Lots completes Liquidation World purchase, makes exec appointments
Columbus, Ohio — Big Lots announced Tuesday that it has completed its acquisition of Brantford, Ontario-based Liquidation World, representing Big Lots’ first foothold outside of the United States.
Closeout retailer Liquidation World currently operates 89 stores in Canada.
"Today we have taken a significant step forward in positioning Big Lots for sustainable long-term growth as we expand beyond our borders and enter the Canadian marketplace,” said Steve Fishman, chairman, CEO and president of Big Lots. “We now have an immediate footprint in Canada with 89 stores, an existing infrastructure, and a dedicated team of over 1,000 associates at Liquidation World and we welcome them to the Big Lots family.”
Big Lots announced two executive-level appointments in conjunction with the acquisition. Joe R. Cooper has been named president of Big Lots Canada while retaining his responsibilities as executive VP and CFO of Big Lots.
Timothy A. Johnson has been promoted to senior VP finance and appointed to the company’s executive committee.